Today’s Lowest FHA Mortgage Rates – Refinance 30 and 15 Year Home Loan Rates Settle Under 5% on December 23
Posted on | December 23, 2010 | No Comments
Even though Christmas is just two days away there are still many people who are looking for today’s lowest FHA mortgage rates in hopes of saving a little bit of extra cash before 2011. At the present time we are seeing refinance 15 and 30 year fixed mortgage rates below 5%. The 30 year conventional rate is around 4.8% which is up slightly from yesterday.
Taking advantage of the current low interest rate environment could help many people save quite a bit of extra cash and 2011. Some homeowners have saved hundreds of dollars a month on a mortgage payment by refinancing in 2010 or 2009. The general rule of thumb is that homeowners should do everything possible to save at least one full percentage point to benefit from the refinance process.
Luckily, there many mortgage calculators available online help homeowners better understand how much money can be saved by going through the refinance process. It would be wise to take advantage of these financial calculators before going through any of the process which could end up costing a significant amount of time and money.
With the advancements in technology and is now the case that Americans have the ability to do personal finance research from the comfort of their home or office without having to make telephone calls. Many mortgage lenders have a live chat service that will help individuals better understand what options are available when it comes to refinancing an FHA mortgage.
It is also important to remember that there are insurance obligations that come with an FHA mortgage so it is important to add these into the calculations. Sometimes it is worth it to take out a conventional fixed mortgage rate with a slightly higher interest rate solely because homeowners can avoid these insurance obligations. There are mortgage lenders that will be more than happy to explain which type of mortgage is best for specific financial situation.
Author: Heather Best
Tags: 15 year fha rates > 30 year fha rates > fha home loan rates > home loan interest rates > lowest fha refinance rates > todays lowest fha mortgage rates
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